They say peak oil is dead. Right, you seen the price of WTI lately?
Recovered: JPMorgan reports that its earnings grew 31% Q/Q. Not bad for pushing paper, foreclosing on widows and scamming your customers – not to mention that Libor thingy.
Promises, Promises: Remember all that natural gas we're getting by poisoning the drinking water in Pennsylvania and so on? Remember how it was going to lower CO2 emissions from power plants? Well, the fracked wells have impressive decline rates and coal's part of US power generation has crept up from 35.4 % to 39.5% in the first 4 months of 2013.
Cheat Sheet: Keep in mind that the much touted flush of shale oil production is not going to last and will fade rapidly due to the 80% to 90% first year decline rate. Keeping production up, much less growing, will require ever more wells drilled in ever less productive shales at ever higher costs. It's not quite peak oil, but it might be Peak Economics.
Something Else To Worry About: Iowa's Supreme Court has ruled that it is legal to fire someone for being too “attractive” - especially if your wife is insecure and you are a known letch. The court is all male.
Lies, Math& Brother Hoods: The Koch brothers flooded Georgia with warnings that requiring Southern Co. (part of Georgia Power) to buy more solar energy will drive energy prices up 40% or more. Quite how doubling the amount of solar power from 1% to 2% of the company's output would drive up prices that much is a mystery. And academic, too, because the Koch brothers lost and the measure passed.
Bigger Is Better, Not: Global climate change models indicate that there will be a 40% increase, globally, in category 3 and higher hurricanes/tropical cyclones in the coming decades. There is pretty close to a 99% chance this 40% increase will occur.
A Mouthful: California will soon have to force feed more than 12,000 prisoners ; temporary jobs, one supposes, unlike Guantanamo.
The Parting Shot:
Quaker rouge. Verbascum thapsus.